Updated Feb 21, 2025
PEAK Capital Acquires Multifamily Property In Brooklyn Heights With Webster Bank Loan
70 Middagh Street, Brooklyn, New York 11201, United States
$5,678,000
$624/SF
Building Size
9,100 SF
Asset Type
MultiFamily
Closing
Apr 5, 2022
About this deal
AI
The property involved in this transaction is a multifamily asset located at 70 Middagh St. in Brooklyn Heights. It has a total square footage of 9,100 and consists of 11 units. The deal took place on 04/06/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,678,000
- Market: Brooklyn Heights
The lender in this transaction was Webster Bank, providing a loan amount of $5,678,000. The loan type was a refinance, with a loan term of 10 years at an interest rate of 4%. The landlord of the property is PEAK Capital, represented by Alex Rabin and David Gomez. The broker involved in the deal was Mitch Uris from Cooper Horowitz.
On the Map
$5,678,000
$624/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.79%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93